Audio By Carbonatix
Fears that the country’s gas infrastructure project at Atuabo could suffer further delays, have been allayed as the Chinese contractor, SINOPEC is expected to resume work Thursday 2nd May.
The Chinese petrochemical firm, Sinopec International Petroleum Service Corporation, abandoned the project at Atuabo in the Western Region because of nonpayment of funds to pre-finance the project.
There have been concerns this could further delay the project because it would only compel the Jubilee operators to flare gas which would negatively affect the country’s oil production.
There are serious concerns about the environmental implications of the process of flaring gas.
Ghana has decided to uphold high levels of environmental standards and hence analysts think the practice could be bad for Ghana’s environmental standards.
But the Communications Consultant at the Energy Ministry, Edward Bawa told Joy Business government has reached a mutual agreement with SINOPEC that should see the work on the project recommence today, May 2, 2013.
Mr. Bawa said the Attorney-General’s department and the Ministry of Finance with their China Development Bank (CDB) counterpart have been able to reach an agreement with the contractor for work to continue.
According to Mr. Bawa, SINOPEC has agreed to stay back and work.
The project when completed will treat raw gas from the FPSO Kwame Nkrumah to the fuel grade for power plants to boost the nation’s electricity supply by 1,000 megawatts and produce valuable by-products such as liquefied petroleum gas (LPG) and condensate translate in an additional income of approximately US$ 300 million per year for the country.
The $700 million Gas infrastructure project is being funded from the $3 billion loan from the China Development Bank (CDB) which is currently delaying.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
A source of excellence across generations – Vice President Opoku-Agyemang lauds Mfantsipim
27 minutes -
(Photos) Mfantsipim School launches historic 150th anniversary
50 minutes -
Knights and Ladies of Marshall group backs Catholic Bishops’ stance on anti-LGBTQ+
2 hours -
Bright Simons writes: All the Filla in the Ibrahim Mahama/E&P – Gold Fields Saga
2 hours -
Monetise Idiocy In Ghana
2 hours -
The Ghanaian prophet and the mysterious death of his scottish wife Charmain Speirs
3 hours -
Nearly 400 sentenced in Nigeria for links to militant Islamists
3 hours -
Ghana’s recovery supported by gold strength despite global oil price pressures – Standard Bank Research
4 hours -
Methodist Church hails Mfantsipim@150; calls for “fresh consecration” to excellence
4 hours -
‘Excellence is our inheritance’ – Nana Sam Brew-Butler hails Mfantsipim’s 150-year reign in leadership
4 hours -
Kwaku Azar writes: A-G vs OSP
4 hours -
Mfantsipim–Adisadel rivalry built excellence, not division – Sam Jonah
4 hours -
Vice President launches Mfantsipim’s 150 years of shaping Ghana’s greatest mind
5 hours -
I assure Otumfuo, Mahama will join him to commission KNUST Teaching Hospital by end of this year – Haruna Iddrisu
5 hours -
Barcelona dominate derby to extend La Liga lead
6 hours